CCP clears acquisition of Tenaga by Artistic

RECORDER REPORT

ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of 100 percent shareholding of M/s Tenaga Generasi Limited (TGL), an independent power producer with a 49.5 MW wind power plant, by M/s Artistic Milliners (Private) Limited (AMPL), one of the world’s top denim manufacturers.

Tenaga Generasi Limited, a Malaysian company, was incorporated in Pakistan in 2004 to set up a 50 MW wind power plant. The company was allocated 1,200 acres of land in District Gharo, Sindh, for the project. NEPRA issued a Generation License to TGL with an initial validity of 20 years.